Nigerian officials in the country's Delta say pollution caused by the two-week fire at a Chevron natural gas rig is making local people sick, as scores of dead fish wash up on shore, and a local health facility is overrun by those seeking medical treatment.
Faced with international political tensions, disruptive weather and natural disasters and global economic woes, oil companies in the U.S. and Europe reported overall declining earnings for the fourth quarter, even as they earned. The good news is that the U.S. became a net energy exporter for the first time since 1949.
Officials with Brazilian oil giant Petrobras, and Brazil's environmental protection agency (IBAMA), announced Wednesday that 26 cubic meters of oily water was collected from an offshore oil production column that ruptured the day before.
ExxonMobil Corp., the world's largest integrated oil and natural gas company, Tuesday reported fourth-quarter earnings up six percent, less than analysts expected, as higher crude oil profits offset weaker refining margins.
Chevron Corp reported lower quarterly earnings on Friday, missing Wall Street forecasts, as rising spending on oil and gas projects and losses at its U.S. refinery business offset gains from higher crude oil prices.
U.S. stocks fell on Friday after data showed the U.S. economy grew less than expected in the fourth quarter, while weak earnings from Ford and continued caution over Europe's debt crisis also weighed on the market.
Shares of energy giant Chevron Corp. tumbled Friday after losses from refining operations cut fourth-quarter profit to less than analysts expected.
U.S. stocks were headed for a lower open on Friday after data showed the U.S. economy grew less than expected in the fourth quarter, while weak earnings from Ford and Procter & Gamble and concerns over Europe's debt crisis could also weigh on the market.
Stock index futures pointed to a steady open on Wall Street on Friday, with futures for the S&P 500 up 0.02 percent, Dow Jones futures up 0.05 percent and Nasdaq 100 futures up 0.2 percent at 4 a.m. ET.
A Brazilian prosecutor plans to file criminal charges against Chevron Corp and some of its local managers within weeks, adding the threat of prison sentences to an $11 billion civil lawsuit as punishment for a November offshore oil spill.
The U.S. Second Circuit Court of Appeals on Thursday explained why a New York judge did not have the authority to order an injunction last year prohibiting Ecuadorean plaintiffs from collecting on a ruling against Chevron Corp.
A natural gas offshore exploration rig that caught fire off the coast of Nigeria, killed two contractors and sank, is still burning causing flames to rise up from the surface of the water, and Chevron a official expects the fire will not be put out for another month.
Chevron, the second largest integrated U.S. oil company, is expected to report stronger fourth-quarter earnings on dramatically higher crude oil prices and production that offset breakeven margins on refining and marketing operations as well as reduced output of products like gasoline.
As natural-gas prices plunge to their lowest level in a decade, Venezuela plans to tap one of Latin America's biggest gas fields as it seeks to boost power generation and even help revive stagnant oil production.
Chevron Corp has filed an appeal with Ecuador's Supreme Court to review a judgment that the U.S. oil company pay $18 billion in damages for polluting the Amazon jungle.
The Chevron Corp. announced Friday it has filed an appeal with Ecuador's National Court of Justice to review what the company calls an illegitimate ruling made against it this year.
Tiger Woods thinks former swing coach Hank Haney is unprofessional for writing a book about their time together. Haney's book, The Big Miss, details his six-year tenure as Woods' swing coach before their mutual parting in May 2010.
The contractors were part of a group who were drilling an exploratory well off the coast of Nigeria.
Two individuals working on an exploration well off the coast of Nigeria are still unaccounted for following a fire that took place on one of the company's rigs.
The S&P 500 closed at a five-month high for the third day on Thursday but had difficulty extending gains in the face of lackluster economic data and another European bond market test.
Wall Street retreated on Thursday following a three-day rally after weaker U.S. economic data and comments from the European Central Bank chief that painted a mixed view on the region's debt crisis.
Strong bond auctions in Europe buoyed Wall Street stocks on Thursday, but weaker-than-expected data and a profit warning from energy major Chevron weighed on sentiment.
